Vancouver B.C. June 25, 2013: International Lithium Corp. ("ILC" or the "Company") (ILC: TSX-V) is pleased to announce results from the nine
(9) hole diamond drilling program, totalling 594 metres, on two
prospects at the Blackstairs Lithium Project, Ireland. The drill
program confirmed historical drill results at the Aclare prospect
85 kilometres southwest of Dublin and successfully intersected
lithium bearing spodumene pegmatites in a previously untested area,
below a spodumene bearing boulder field at the Moylisha prospect.
The Company has conducted preliminary testing on only two of the
six main prospects located along the 35 kilometre lithium pegmatite
belt. All of the 19 known spodumene occurrences that make up the
belt are within the Company's prospecting licences.
Key
Highlights:
-Pegmatite intersected at Aclare containing
2.23% Li2O
over 23.3m including 3.43% Li2O
over 6.0m (drill width)* confirms historical results.
-Multiple pegmatite dyke
intersections and 1.50% Li2O over 5.60m at Moylisha are consistent with
historical results and confirm the prospectivity of the
area.
-Step out drilling, 500m south
of historical work at Moylisha, intersected lithium and other rare
element mineralization within multiple, closely spaced, parallel
pegmatites.
Table of significant lithium
values from the 2013 Blackstairs project drilling
program
------------------------------------------------
|Hole_ID |From (m)|To (m)|Length* (m)|Li 2|
| | | | |O% |
|----------------------------------------------|
|ACL13-02 |31.30 |42.05 |10.75 |1.26|
|----------------------------------------------|
|and |45.55 |48.30 |2.75 |0.60|
|----------------------------------------------|
|ACL13-04 |30.55 |53.86 |23.31 |2.23|
|----------------------------------------------|
|including |32.80 |43.20 |10.40 |2.90|
|----------------------------------------------|
|including |36.00 |42.00 |6.00 |3.43|
|----------------------------------------------|
|and including|45.85 |52.00 |6.15 |2.92|
|----------------------------------------------|
|ACL13-05 |40.90 |50.30 |9.40 |1.34|
|----------------------------------------------|
|including |40.90 |43.95 |3.05 |2.55|
|----------------------------------------------|
|and including|45.35 |48.70 |3.35 |1.14|
|----------------------------------------------|
|MOY13-01 |24.25 |27.70 |3.45 |1.05|
|----------------------------------------------|
|and |77.30 |80.70 |3.40 |1.15|
|----------------------------------------------|
|MOY13-02 |13.10 |18.70 |5.60 |1.50|
|----------------------------------------------|
|MOY13-03 |55.90 |57.75 |2.05 |1.51|
------------------------------------------------
* All widths
reported are drill core widths and have not been converted into
true width.
At Aclare, drill hole ACL13-04 returned 23.3
metres grading 2.23% Li2O
in an area where historical drilling in the 1970s and 1980s had
previously identified high lithium grades (see "Blackstairs
Project" below). Historically, the Aclare prospect has received the
most exploration work and presents the best area to validate
geochemical and geophysical exploration methods and is the
principal target for resource delineation drilling. Historical deep
overburden sampling shows a continuation of lithium in soils
extending significantly to
the south of the drill tested area. The confirmation of grades in
the recent drilling has increased the priority to test Aclare for a
southern extension to the known mineralization.
Analytical results from the three drill holes
at Moylisha include 1.15% Li2O
over 3.40m and 1.05% Li2O
over 3.45m in MOY13-01. A total of six (6) pegmatite bodies with
greater than 1.5m drill intersection width were encountered in
MOY13-01. This hole was drilled beneath a pegmatite boulder field
identified in 2011/12 reconnaissance work and is previously
untested by drilling. The boulder field contains a significant
number of spodumene pegmatite boulders approximately 400 metres
south of historical drilling at Moylisha representing a significant
step out from historical results. The pegmatites intersected in
MOY13-01 are lower grade than samples from the boulders found at
surface and consequently do not explain their source. The number of
pegmatitic intersections and the frequency of their occurrence as
intersected in the drill holes at Moylisha is particularly
encouraging for further exploration. Drill results in MOY13-02
identified 1.50% Li2O
over 5.6m, similar grades to those reported historically. The close
proximity in MOY13-03 of zoned pegmatites enriched in lithium and
other rare elements also demonstrates the prospective character of
the Moylisha area. Historical deep overburden data, in conjunction
with orientation survey lines from the 2013 program is being
evaluated to identify additional drill targets at
Moylisha.
Seven distinct styles of mineralogy and
texture are recognized in drill core indicating that multiple
pulses of increasingly evolved pegmatite intrusive are present at
Moylisha and Aclare. This is a positive exploration indication
since more evolved pegmatites are likely to contain greater
concentrations of lithium and rare metals. The following table
compares the number of discreet pegmatitic bodies, greater than 1.5
metres in drilling length, intersected at Aclare (ACL) and Moylisha
(MOY).
--------------------------------------------------------------------------------
|Hole ID |Total|Easting*|Northing*|Elev |Azimuth|Dip |Pegmatites|Pegmatite|
| |m | | | | | |>1.5m** |m** |
|------------------------------------------------------------------------------|
|ACL13-01|28.6 |284644 |159822 |170.7 |000° |-90° |0 |0.0 |
|------------------------------------------------------------------------------|
|ACL13-02|74.5 |284775 |159956 |176.0 |000° |-90° |5 |18.9 |
|------------------------------------------------------------------------------|
|ACL13-03|52.7 |284775 |159956 |176.0 |300° |-60° |0 |0.0 |
|------------------------------------------------------------------------------|
|ACL13-04|67.0 |284690 |159824 |174.0 |300° |-50° |2 |25.06 |
|------------------------------------------------------------------------------|
|ACL13-05|65.1 |284690 |159825 |174.0 |300° |-75° |3 |15.72 |
|------------------------------------------------------------------------------|
|ACL13-06|90.6 |284821 |159735 |206.0 |300° |-50° |0 |0.0 |
|------------------------------------------------------------------------------|
| |378.5| | | | | | | |
|------------------------------------------------------------------------------|
| | | | | | | | | |
|------------------------------------------------------------------------------|
|MOY13-01|109.0|292768 |166783 |239.0 |135° |-50° |6 |21.32 |
|------------------------------------------------------------------------------|
|MOY13-02|40.0 |293095 |167039 |268.2 |135° |-45° |3 |18.35 |
|------------------------------------------------------------------------------|
|MOY13-03|66.5 |292998 |166994 |274.3 |135° |-45° |9 |30.57 |
|------------------------------------------------------------------------------|
| |215.5|* Locations in Irish Grid System. |** Drill width |
--------------------------------------------------------------------------------
Geochemical orientation surveys using several
methods were conducted across the two prospects targeted for
drilling. Lab results for this surface work have been received and
are being reviewed by the Company to identify effective exploration
methods for extending existing drill targets and identifying new
targets along the 35 km long Leinster lithium pegmatite
belt.
About the
Exploration Program
The 2013 exploration program is the first
phase of exploration planned and conducted by the Company since
strategic partner, Ganfeng Lithium Co. Ltd. ("GFL") optioned the
property in late 2012 (News Release 2 October, 2012). The
information will provide GFL with support for future decisions
regarding their increased participation in the project. The two
primary goals of this phase were to confirm results of historical
drilling and to test the
effectiveness of surface exploration methods in areas where the
location of subsurface pegmatites are better constrained. Drilling
was successful in confirming historical results at Aclare and
confirming previously undiscovered mineralization at Moylisha. Both
the Aclare and Moylisha pegmatites remain open for extension in all
directions. Initial reviews of the exploration methods used to help
identify pegmatites below cover have been positive, with
interpretation of the results ongoing.
"The
confirmation of lithium mineralization at Aclare gives us
confidence in our analysis that there may be an untested extension
of the known occurrence trending away from the area of historical
drilling. This interpretation is reinforced by the results
witnessed at Moylisha where our drilling intersected numerous
multi-phase pegmatites with highly anomalous lithium values almost
500 m away from the historical drilling. All the targets are under
cover and it will take time and drilling to piece together the
geologic picture surrounding the mineralized bodies. As such, at
Moylisha the mineralization intersected in drill core does not
match the grade witnessed in pegmatite boulders found at surface
indicating that there may be another pegmatite body in close
proximity. Our orientation surveys have shown some promise in
targeting the unexposed pegmatites and given that we have an
intense fertile system, there is significant discovery potential
not just at Aclare and Moylisha, but along the entire, highly
unexplored, Leinster Pegmatite Belt." stated Gary Schellenberg, CEO
of the Company.
Fieldwork and sampling was conducted
primarily by Aurum
Exploration Services, an
international geological consultancy headquartered in Kells,
Ireland. Drilling was conducted by Priority Drilling Limited using
HQ and NQ sized core.
Samples were analyzed at OMAC Laboratories
Ltd., Loughrea, Galway County, Ireland. OMAC is part of the ALS
Group, a recognized and certified international firm for
geochemical analysis and assays and is independent of the Issuer.
Samples were prepared by OMAC and analyzed using ICP-MS and ICP-AES
following four-acid digestion Samples were submitted to OMAC by
Aurum staff. OMAC is an accredited, internationally recognized
laboratory with ISO 17025:2005 certification. The Company uses
industry-recognized practices to ensure quality control.
Blackstairs
Project
The Blackstairs project, comprised of eight
mineral exploration licenses totalling 292 square kilometres, is
located 65 to 100 km south of Dublin straddling the Counties of
Carlow and Wicklow in Leinster, southeast Ireland. The Property
encompasses an extensive NE-SW oriented 30 to 50 kilometre long
rare metals pegmatite belt situated within the East Carlow
Deformation Zone along the eastern side of the Leinster Granite.
Approximately 19 significant lithium pegmatite occurrences have
been discovered within the Property to date, primarily through
boulder mapping with five buried pegmatites known through past
trenching and drilling.
Lithium bearing pegmatite occurrences were
first reported in the area in 1970. In the period through to 1977,
Irish Base Metals carried out a preliminary exploration program
comprising prospecting, sampling, trenching and geophysical surveys
culminating in 47 short boreholes totalling 2,300 metres at 4 of
the 19 lithium pegmatite occurrences over a number of
seasons.
Due to the prevalent overburden cover and
scarcity of outcrop, prospecting for lithium pegmatite boulders was
the most successful exploration method utilized to identify
priority target areas. The relative location, size and quantity of
pegmatite boulders within the dry stone field boundaries provided a
reliable indication for the approximate position of buried
pegmatites. The Aclare occurrence, situated in the center of
the Property has witnessed
the most exploration activity on the Property and was initially
discovered through this exploration approach.
Thirty-three short drill holes totalling
1,703m were drilled at Aclare. A pegmatite body up to 20 metres
width and traced for more than 400 metres along strike was
delineated and an historical resource of 570,000 tonnes grading
1.5% Li2O was reported in 1976 by Irish Base Metals. (A Qualified
Person has not done sufficient work to classify the historical
estimate as current mineral resources and the Issuer is not
treating the historical estimate as current mineral resources. The
historical estimate is included here for illustrative purposes only
and should not be relied upon. Mineral exploration is by nature a
highly speculative endeavour and there is no guarantee that further
exploration work will result in the discovery and/or definition of
a mineral resource at Blackstairs.)
Five drill
holes, for a total of 163 metres, were drilled at the Stranakelly
occurrence situated proximal to the northeast Property boundary.
Lithium-bearing pegmatite mineralization was intersected in four of
the holes with hole STK3 grading 1.85% Li2O over 5.3 metres.
Five drill holes, for a total of 212 metres,
were drilled at the Moylisha occurrence situated approximately 10
km northeast of Aclare. The width of the pegmatite body encountered
varied between 5 and 10 metres with one hole grading 1.66% Li2O
over 9.4 metres.
Four drill holes, for a total of 280 metres,
were drilled at the Seskinnamadra occurrence situated approximately
8 km southwest of Aclare. The narrow pegmatite intersections
reported from the drilling does not explain the significant
frequency and size of the lithium pegmatite boulders mapped in the
area that suggests a potentially large yet to be discovered buried
pegmatite body.
The observed
lithium bearing pegmatites and extensive boulder occurrences within
the Property represent a highly prospective and underexplored
region. In addition, the recent discovery of a high concentration
of pegmatite boulders reporting grades exceeding 4% Li2O at
Moylisha only serve to highlight the exploration potential of the
Property.
About Ganfeng
Lithium Co. Ltd.
Ganfeng Lithium
based in Xinyu, Jiangxi Province, China, is a professional producer
of lithium products which has developed a comprehensive product
chain, including lithium metal and alloys, inorganic and organic
lithium chemicals, supplies a wide range of lithium products for
primary and secondary lithium battery market, pharmaceutical and
new material industries. Ganfeng Lithium's principal market is in
China with international exports to Europe, Japan, the USA and
India. Ganfeng Lithium was founded in 2000 and listed on the
Shenzhen Stock Exchange in August 2010, notably as the first
publicly listed Lithium Company in China and has experienced rapid
continuous growth over the last 12 years.
About
International Lithium Corp.
International Lithium Corp. is an exploration company with an
outstanding portfolio of projects, strong management ownership,
robust financial support and a strategic partner and keystone
investor Ganfeng Lithium Co. Ltd., a leading China based
lithium product manufacturer.
The Company's primary focus is the Mariana
lithium-potash brine project in Argentina within the renowned South
American "Lithium Belt" that is the host to the vast majority of
Global lithium resources, reserves and production. The 160 square kilometre Mariana
project strategically encompasses an entire mineral rich evaporate
basin that ranks as one of the more prospective salars or 'salt
lakes" in the region.
Complementing the Company's lithium brine
projects are rare metals pegmatite properties in Canada and Ireland
that have recently reported positive geochemical results (latest
news releases dated April 3,2013 and April 9, 2013). With the increasing demand for high tech
rechargeable batteries used in vehicle propulsion technologies and
portable electronics, lithium is paramount to tomorrow's
"green-tech" economy. By positioning itself with solid development
partners and acquiring high quality grass roots projects at an
early stage of exploration, ILC aims to be the green tech resource
explorer of choice for investors and build value for its
shareholders.
To
view map image, please click
here
To
view map #2, please click
here
To
view map image #3, please click
here
John Harrop,
PGeo, FGS, and Vice President, Exploration of the Company is a
"Qualified Person" as defined under NI 43-101 has reviewed and
approved the technical content of this news release.
On behalf of the
Board of Directors,
Kirill Klip
President,
International Lithium Corp.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Statements in this press release other than
purely historical information, historical estimates should not be
relied upon, including statements relating to the Company's future
plans and objectives or expected results, are forward-looking
statements. News release contains certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on numerous assumptions and are subject to all
of the risks and uncertainties inherent in the Company's business,
including risks inherent in resource exploration and development.
As a result, actual results may vary materially from those
described in the forward-looking statements.
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